SAN JUAN, Puerto Rico -- Pueblo Xtra International said changes in its supermarket merchandising and promotional programs resulted in higher operating cash flow and lower sales for the first quarter ended May 23.
on rose 21.2% for the 16-week quarter to $21.7 million, compared with $17.9 million a year ago -- "a result of the many changes we tested in the retail food division during the latter part of last year," William T. Keon 3rd, president and chief executive officer, said.
Those changes included a new advertising campaign utilizing the tag line, "Count on Us" and offering a broader product mix while eliminating marginally profitable product lines, he said.
Sales for the quarter fell 17.6% to $245.6 million and same-store sales declined 18.5%, including a drop of 20% in the retail food division. The company reported net income of $500,000 for the quarter, compared with a net loss of $4.8 million a year ago.
Pueblo said it will open one new store this year in a suburb here, concurrent with a new Blockbuster in the same shopping center.
